Global supply-chain giant Li & Fung will source less than half of its goods from China this year for the first time in 15 years as the company looks elsewhere amid rising manufacturing costs and the trade war.China accounted for 51 per cent of Li & Fung’s total sourcing business in 2018, down from 54 per cent in 2016, according to chief executive Spencer Fung.“It gives us an advantage and helps our customers to mitigate the risk of US tariffs on Chinese goods and increasing labour costs in… Source link

Those eye-popping gains coincided with a fast run-up in all of China’s indexes, including the Shanghai Composite Index, which recently galloped into a bull market in just 32 trading days. “I pay more attention to the stock market and business news now as the market sentiment has changed dramatically,” said Chen, who works for a state-owned logistics supply-chain company in Shanghai and has invested more than 100,000 yuan (US$14,900) in the stock market. “I am now keeping a close eye on the stocks I own and the sectors that are…

The Hong Kong market opened flat on Friday, while leading benchmarks in mainland China recovered losses made in previous sessions.With the conclusion of the annual National People’s Congress in Beijing on Friday, and the release of most of key China economic data on Thursday, investors will once again turn their attention to the US-China trade war and corporate results, said traders.“Investors remained sidelined on Friday. Over the short term, I expect the Hang Seng Index to trade in a tight… Source link

While both central banks are hoping that the recent downshift in growth – which stems in part from the fallout from the trade war – will prove temporary, the dovish policy shifts in Europe and America prolong the “lower for longer” interest rate regime that appeared to be coming to an end as the pace of US monetary tightening quickened in 2017 and 2018. Some investors, notably Pimco, an asset manager, fear the euro zone faces the same low-growth, low-inflation environment Japan has endured following the bursting of its asset…

Viet Nam News
HÀ NỘI — Businesses must step up to the plate and obtain green product certification as more and more people are eating healthier around the world.
That was the message from Vũ Bá Phú, director of Việt Nam Trade Promotion Agency under the Ministry of Industry and Trade who feels enterprises must get the right certification in order to penetrate the global market.
The consumption of green-certified products is becoming a trend in many countries, especially in developed ones.
He was speaking at…

Viet Nam News
HÀ NỘI — Commercial banks lifted Vietnamese markets on Tuesday as investors got a boost from positive changes on global bourses.
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange gained 1.70 per cent to close at 1,001.32 points.
Successfully passing the 1,000 point level, the VN Index marked its highest level since October 8, 2018.
The VN-Index had dropped 1 per cent over three consecutive days.
On the Hà Nội Stock Exchange, the HNX Index was up 1.14 per cent…

Chinese dockless bike-sharing company Mobike said on Monday it will pull out of some Asian countries and re-evaluate its units in other overseas markets amid a wide-scale contraction in the market and the bankruptcy of top competitor Ofo.The Beijing-based firm, which is backed by Tencent Holdings, has launched its signature orange bikes in markets including Australia, Europe and the United States.The company said it will lay off at least 10 staff as part of its restructuring plan.Ailing Chinese… Source link

Norway’s sovereign wealth fund, the world’s biggest thanks to petrodollars, will sell off stakes in oil and gas exploration and production companies to reduce its exposure to black gold, the government said Friday.While the decision is based solely on financial considerations and not on the environment or climate change, a divestment – even partial sell-off – by an investor worth more than US$1 trillion was seen as a major blow to polluting fossil fuels and was swiftly hailed by the… Source link

On Monday, the benchmark Shanghai Composite Index rose above the 3,000-point level for the first time since last June, taking its gains since the beginning of this year to a whopping 24 per cent, satisfying the popular definition of a bull market: a 20 per cent rally from a recent low. China’s other main stock indices are also in bull market territory, with the ChiNext gauge of small caps and technology shares up a staggering 38 per cent since the end of January. In corporate debt markets the… Source link